South Africa

South Africa, the biggest producer of precious metals, will review laws that force mining companies to sell stakes to black investors after concerns they are failing to improve the lives of the nation's poor majority. "We still have to reflect as to whether black economic empowerment itself was the correct way to enhance participation of the industry in the lives of disadvantaged people," Minerals and Energy Minister Buyelwa Sonjica said. A summit early next year will reconsider the laws, she said. The ruling ANC passed legislation four years ago compelling mining companies to sell 15 percent of their assets to black investors by 2009 and 26 percent by 2014. (Bloomberg)